I JUST SUBMITTED 100 OFFERS IN ONE DAY!!! I MUST BE NUTS!!!

If you get an offer at 50% discount, lock it up and run ads on craigslist and backpage in the F.S section, you will be suprised of the cash buyers that will contact you. It is different when you acually have the property locked up than trying to get Investors on your buyers list when you dont have anything.
My opinion, I haven't locked up a property yet, but came close and they came running.

I was thinking the same thing. It's much easier to advertise actual property rather then something orbitrary. That's what I am planning to do. Now I only hope that at least one of them gets accepted.

THANKS.

Yuri

I hate to sound so ignorant (I am new at this) but how do you offer 50% of listing price? I tried to buy a property and at first i did offer below the listed price, but i keep getting overbid. The last one I made an offer of 16k over the asking price and i did not get it. How do you buy these properties, when so many people with money are overbidding us? PLEASE HELP!

You keep trying. I have put 27 offers before and got rejected on all of them. You keep putting offers, one or two will be accepted. It's just a statistic. Matt (cbrpower) is a pro at this.

Yuri, I know that EVERYONE says you MUST have an end-buyer in mind when you put in offers, and though we are constantly working on building our buyers list, I agree with Jason. If you get one of those properties at 50% below asking, I doubt that you will have any trouble assigning it. A good deal is a good deal, and there are plenty of investors out there that will jump at one.

Sorry about losing your job. We are crossing our fingers for you. With 100 offers, odds are you SHOULD get at least one, right?!? Good luck!!

Like Matt L indicated on BARM Book. When the lenders see that the home you secured have already has EQUITY, it is likely they will lend you money because they will again target you on HELOC.

Good Luck,
VV

Yury you are cocky! You will have no problem with RE business. You remind me of{MY BLEEP are for business and my heart is for my family} maybe oneday Dean will buy you lunch? I do agree about a buyers list, We may have to front the product.

Randy
2birds---1stone
"MAKE YOUR ACTIONS COUNT"

My agent emailed me saying that it will take her 3-4 days to put all the offers out there since it's too much paperwork and she can't do verbal. I told her that I can wait and since I spent few days picking the properties, it's only fair she takes some time to put it on paper. I guess I got too excited when I said I did it in a day LOL Sounded pretty cool though, you gotta admit.

Yuri

aw well...The important part is it is getting done, and you have an agent in your corner willing to do that for you...Some people don't have that...So that is really good...100 offers going in basically in about a month and a half if she does 3 offers 7 days a week...Not bad at all...If she does Monday through Friday, that is 15 offers per week...So that is pretty good...It is a numbers game...The more offers, the better chance something will get excepted...

I kinda jumped the gun a little didn't I?

if you are excited bout it, Ill let it slide this time...Cause I sure as heck would be

How does one make 100 legal offers without ernest money or did you already give your agent money? I'm confused and new at this. what happens if 5 or more are accepted? Will you have the money?

If it is a number's game as everyone here will tell you, you should get at least 3 maybe 4 accepted! Get on that search for buyers NOW, NOW. NOW!

There is no point to a great deal if you cannot get it assigned!
You can do this, I just know it!

Angela

Thanks for having faith in me

Hi:
I won't be using any of my own money. I am planning to lock it under contract and assign them making 5K. Hopefully 4 get accepted and I can make my 20K LOL

Hey Greg
1)You copy a $500 check and submit it with the offers.
2)If they get 5 accepted and cant get them assigned, Then they back out using there inspection clause.

So... this is a reply to an old posting of yours. after you placed the 100 offers... how many got accepted?
How did you find your realtor?

Hi:
This is still new LOL I am waiting for the responses. It will probably take some time until I can get a reply. Anyway, as far as a realtor goes. I started calling all local RE Offices and explaining exactly what I want to do and how to proceed. 3 realtors told me that they are not interested because of one thing or another and the 4th said she would have no problem working with me.

As far as accepted offers, I will keep you posted guys

Hi Yuri77. Sounds like you are cook'n. Hope all goes well for you. I am having a heck of a time finding a realtor to work with. They think I am crazy for cocoa puffs. LOL I will continue to look of'course but I was wondering what exactly you said to your realtor. Maybe my schpel is all wrong. If you could answer that would be awesome as I am sure alot of people are curious about this too. Thanks.

Was that a nice thing to do to an agent?

It sounds like it's a lot of work. Is this considered not being fair, asking this of your agent?

I'm ignorant about this, but since she's a person, is this considered kind of cruel and hurts other Investors because people think we will act unreasonably?

Again, I apologize if this comes off rude, but it just sound fair to someone the book described should be a partner and not a work horse.

Yuri77 I wishing you the best of luck. Please do keep us posted. I just finished reading the book and hearing if this works for you will be a huge confidence booster for me.

Hi Yuri,

I'm a newbie and still reading Dean's book.
I just wanted to wish you luck and I hope something works out.
Sorry that you lost your job, that sucks big time!
But I have faith that you will get a great deal(s).
You've done more than I have.

I've read the part in Dean's book about getting a real estate agent to help me.
I was considering this, but now that I read that you had a real estate agent helping you out like this, its a great concept.

Keep on going and I pray for the best for you.
Cheers!

Hey Y, we spoke on the phone sometime ago... U were going to consider partnering with me, but U needed to consult with your wife.... I have not heard back from U.... I hope everything goes well for U with those 100 offers.... Talk to you later!!

way to take action! Like Angela said, work on those buyers! Good luck!
Can't wait to read your follow-up posts.

Rina

P.S. Invest NOVA, that's a good question about the realtor. Thing is, when Yuri gets going on these props that realtor is going to get her commission off each one (from seller) and she knows the potential $ she stands to make working with Yuri. That's the kind of agent you want on your team. WIN/WIN for both of you!

My question is (assuming anyone knows the answer to this), if the potential of making lots of money is there, how come realtors don's jump at the chance when its offered by real estate investors? Like Yuri said, she was turned down by some before she found her real estate agent. In this down market, it wouldn't hurt to make some cash in a legal but creative way. Thoughts?

Most realtors don't know the potential. How many of US didn't even know until Dean taught us?? That's why you need an agent that is either familiar with investing or one who is open to trying the strategies with a POSITIVE open mind. We also have to be confident going in. Your realtor will probably only be as confident as YOU are.

Like someone I know always says, "If it's that easy, why isn't everyone doing it?" I answer that it IS easy, but it takes some knowledge, skill, and plenty of determination. That's what sets us a cut above the rest.
So keep at it! We can all be winners!!

Rina

Yuri I was just wondering what the condition of the properties were. Are they in need of major rehab? If they are, is that how you will get rid of them quick? I guess that is what makes me nervous too. I don't know who to target when I get an offer accepted. When you put ads on CL and get investors calling, are most investors looking for rehabs?

Stephen

What I was telling realtors was that I am looking for someone who has experience dealing with investors. Once we got that out of the way, I told them that I need someone that will be confortable putting low ball offers at 50-60% off ASKING PRICE (don't care about FMV). That's when I lost 3 of the agents. And when I told them that I expect to be putting 50 offers a month and closing on at least one, they said that it is not for them. There are alot of lazy agents out there and that will pretty much tell you if you are wasting your time with one. They want to make a killing from one deal and not do much in the process. When I finally got Barbara (my current RE agent), she was fien with everything. I also told her that this will not be her usual situation. She will be part of my team and an equal. Meaning that even if I find a deal without her, she will still be part of the deal and will make some commission (not her usual 7-8% but still some). And if she finds me an investor to dump (excuse the vulgar term) the proeprty to, then out of my 5K for assigning, she will make 2 and I will make 3K. I figured it will be a good insentive.

I hope I answered your question in full. If not, ask away.

Real Estate Agents should be wired to be work horses if they want to make money. Especially in the economy like this, finding one of us is a goldmine. I was scared to talk to agents, but then I counted agencies in the area and said to myself "There are 20 within 10 mile radius. 19 wil say no, 1 will say yes". You got nothing to lose and you stand to gain a very powerful sidekick, for the lack of the better word.

Hey Chris:
Of course I remember. My wife pretty much took herself out of the game and I couldn't get approved by any HMLs because of my credit. On top of that I lost my job, so no income. If we would be partners, I wanted to be equals and I wouldn't be able to be a full partner with you, rather a bad one LOL I am sorry I fell out of touch, just alot of things happened at the same time and didn't get a chance to speak with you.

I am really sorry, I still have your email and phone and will contact you shortly.

Yuri